Question: Brief Exercise 5-12 (Algo) Future value; ordinary annuity [LO5-7] You would like to contribute to a savings account over the next three years in order

Brief Exercise 5-12 (Algo) Future value; ordinary annuity [LO5-7] You would like to contribute to a savings account over the next three years in order to accumulate enough money to take a trip to Europe. Assume an interest rate of 14%, compounded quarterly. How much will accumulate in three years by depositing $480 at the end of each of the next 12 quarters? Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of \$1, PV of \$1, FVA of \$1. PVA of $1, FVAD of $1 and PVAD of \$1)

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